Answer to Question #212690 in Management for Kay

Question

Description of the Foschini Group, industry and salient points; description of corporate structure; correct articulation of corporate strategy and business strategy as concepts; apt examples.

Answer 1

Descriptions

·        Foschini Group is a listed South African retail clothing company with over 3,000 locations under its umbrella. Its headquarters are in Parow, South Africa, near Cape Town.

·        A classification that refers to a group of related companies in terms of their principal business activity is referred to as an industry. A starting point is a salient point. A crucial point in a proposal is an example of salient.

·        The organization of multiple divisions or business units within a firm is referred to as corporate structure. As an example, the structure of the organization is hierarchical.

·        The strategic outcomes to be reached will be described in the strategy articulation, which will preferably be represented in quantitative or qualitative goals. Here are several examples: More items and services should be cross-sold and the most innovative product or service.

·        A business strategy is a collection of competitive maneuvers and actions that a company uses to attract customers, compete successfully, improve performance, and meet organizational objectives. Company A's objective, for example, could strive to become the cheapest smartphone provider.